City of Racine Housing Repair Programhttps://www.racinehousingloans.com
City of Racine Department of City DevelopmentThu, 15 Feb 2018 17:14:34 +0000en-UShourly1https://wordpress.org/?v=4.9.4Limited-Time Matching Grants and 0% Interesthttps://www.racinehousingloans.com/836-2/
Thu, 15 Feb 2018 17:14:34 +0000https://www.racinehousingloans.com/?p=836Limited-Time Matching Grants and 0% Interest! Up to $10,000 Grant Matched to Loans January 2018 Housing values are going up in Racine. Winter will be over soon. It’s the perfect time to take care of house repairs! The City of Racine wants to help homeowners finance repairs this spring. The City is offering 0% interest on […]

Up to $10,000 Grant Matched to Loans

January 2018

Housing values are going up in Racine. Winter will be over soon. It’s the perfect time to take care of house repairs! The City of Racine wants to help homeowners finance repairs this spring. The City is offering 0% interest on loans and up to $10,000 of match grant for all Housing Repair Loans approved through June, 2018.

How does a match grant work? If a homeowner needs $16,000 in repair work, the homeowner will sign for a $8,000 loan, payable over up to 20 years with 0% interest. The City of Racine will grant the remaining $8,000 if the homeowner remains in the house for at least 5 years.

Like all City of Racine housing programs, homes must be in the City of Racine and current on all taxes and mortgage payments. To start the application process, call us or fill out our Get Started form.

]]>A Walk Through a Typical Home Repair Loanhttps://www.racinehousingloans.com/a-walk-through-a-typical-home-repair-loan/
https://www.racinehousingloans.com/a-walk-through-a-typical-home-repair-loan/#respondFri, 25 Aug 2017 18:07:29 +0000https://www.racinehousingloans.com/?p=613A Walk Through a Typical Home Repair Loan We get asked frequently: how much time does a home repair loan usually take? While no loan and repair work process is the same for every household, a typical repair loan for a single-family house usually takes about 60 days from start (submitting information to the Department […]

We get asked frequently: how much time does a home repair loan usually take? While no loan and repair work process is the same for every household, a typical repair loan for a single-family house usually takes about 60 days from start (submitting information to the Department of City Development) to finish (closing on all loan contract). Home repair loans usually follow this process:

When a homeowner submits interest in a repair loan either through a phone call to City Development or through the website’s Get Started form, they can expect a follow-up call from a City staff member within a week. The staff member will ask questions regarding finances, the property, and the makeup of the household to determine if the homeowner might qualify for any of the City’s repair loans. If the homeowner likely qualifies, they will be sent a full loan application.

When the homeowner is finished filling out the full application and has all the required supporting documentation like mortgage statements, proof of homeowner’s insurance, and bank statements, they make an appointment with the City’s Consumer Lending Specialist.

At the appointment, the homeowner and Consumer Lending Specialist go over the application and look for any missing information. If everything looks complete, income is verified for all adult household members and a credit report ordered.

At this time, an appointment is scheduled with the City’s Housing Technician to look at the repair work needed at the house. The Housing Technician visits the property and looks at condition of the house, the types of repairs needed, and if our loan (with a maximum amount of $24,999) could pay for work to bring the house up to code.

If the household is income-eligible and the repairs are possible with the loan amount, the loan is presented for approval at the City of Racine’s Loan Board of Review. All personal information besides the homeowner’s name and address are taken up by the board in closed session and not made available to the public. The Loan Board will vote to approve or deny the loan.

If the loan is approved by the Loan Board of Review, the Housing Technician will order a Lead Risk Assessment for the house and write up work specs for the repairs needed including any lead-based paint hazards.

The homeowner is given bid packets by the Housing Technician for all repair work and a list of Qualified Contractors who are eligible to bid on the work. The homeowner sends the bid packets to any or all of the Qualified Contractors to get work bids. The Contractors, if interested in bidding, will schedule visits with the homeowner to inspect the work needed and make a bid.

After receiving bids back from contractors, the homeowner and the Housing Technician review all bids submitted to help the homeowner choose which bids to accept. The homeowner ultimately chooses the contractor(s) to perform their home repairs and the total repair budget is calculated.

The homeowner and City then close on the Home Repair Loan to finalize the loan documents. Repair work on the house can begin at the time agreed upon by the homeowner and contractors.

]]>https://www.racinehousingloans.com/a-walk-through-a-typical-home-repair-loan/feed/0How does the City build a house?https://www.racinehousingloans.com/how-does-the-city-build-a-house/
https://www.racinehousingloans.com/how-does-the-city-build-a-house/#respondFri, 23 Jun 2017 11:34:34 +0000https://www.racinehousingloans.com/?p=155The post How does the City build a house? appeared first on City of Racine Housing Repair Program.
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How does the City build a house?

New homes constructed by the City of Racine Housing Department use the latest technology to ensure efficiency and durability. Construction of these homes takes about six months from start to finish. Homes are built to match the styles and site layout of area homes to ensure neighborhood continuity.

Week 1- Foundation Dug

Week 2- FOUNDATION Poured

Homes are built with concrete foundations poured-in-place with interior brick pattern to match the ‘classic’ look of basements in Racine-area homes. To maximize efficiency, home foundations are wrapped in foam insulation.

Week 3- Foundation set

Week 4- Week 10 Walls and Floors

Iron I-Beams are installed in most City of Racine Housing Department new construction projects ensuring strength and durability.

Homes are built using made-to-order floor and roof trusses versus large dimensional lumber beams. Trusses create quiet floors that do not squeak, clear larger spans reducing the need for additional bracing below, and use small pieces of wood thereby conserving energy and old growth forests.

Week 11-13 Roof

Week 14-18 – Siding.

Homes are wrapped in moisture-proof Tyvek and covered with SmartSide wood composite siding which carries a 30 year color warranty.

Week 18-24- Interior

]]>https://www.racinehousingloans.com/how-does-the-city-build-a-house/feed/0Welcome to the City of Racine’s New Housing Repair Loan Websitehttps://www.racinehousingloans.com/welcome-to-the-city-of-racines-new-housing-repair-loan-website/
https://www.racinehousingloans.com/welcome-to-the-city-of-racines-new-housing-repair-loan-website/#respondFri, 23 Jun 2017 11:27:09 +0000https://www.racinehousingloans.com/?p=151Welcome to the City of Racine’s New Housing Repair Loan Website This website was created to help Racine residents find out about the City’s longstanding housing repair and energy efficiency programs and make it easy to apply. The Department of City Development’s pages on the City of Racine’s official website haven’t gone away, so visit […]

This website was created to help Racine residents find out about the City’s longstanding housing repair and energy efficiency programs and make it easy to apply.

The Department of City Development’s pages on the City of Racine’s official website haven’t gone away, so visit http://cityofracine.org/CityDevelopment for all other City Development matters like zoning, economic development programs, building permits, and community development funding.

Please let us know if you have any questions or need help getting started with your housing repair project!